Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 394.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,174 shares of the bank's stock after purchasing an additional 83,096 shares during the period. JPMorgan Chase & Co. owned approximately 0.31% of Shore Bancshares worth $1,651,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Shore Bancshares by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 712,895 shares of the bank's stock valued at $9,976,000 after buying an additional 13,445 shares during the period. State Street Corp raised its stake in shares of Shore Bancshares by 8.5% in the third quarter. State Street Corp now owns 537,140 shares of the bank's stock valued at $7,515,000 after acquiring an additional 41,971 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Shore Bancshares in the fourth quarter valued at $392,000. Barclays PLC increased its holdings in Shore Bancshares by 48.2% during the 3rd quarter. Barclays PLC now owns 84,942 shares of the bank's stock worth $1,189,000 after purchasing an additional 27,627 shares during the period. Finally, American Century Companies Inc. raised its position in Shore Bancshares by 45.7% in the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock valued at $7,437,000 after purchasing an additional 147,148 shares in the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.

Shore Bancshares Trading Down 0.6 %

Shares of Shore Bancshares stock opened at $13.09 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a 12-month low of $10.31 and a 12-month high of $17.61. The stock has a market cap of $436.87 million, a price-to-earnings ratio of 9.84 and a beta of 0.86. The company has a fifty day simple moving average of $13.52 and a 200-day simple moving average of $14.99.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. On average, equities analysts forecast that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Thursday, February 13th. Shore Bancshares's dividend payout ratio (DPR) is 36.09%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler initiated coverage on Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 price objective for the company.

Shore Bancshares Profile

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.

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